• The burn price of Shiba Inu recently surged after over 745 million tokens were burned in just 24 hours. As just a consequence of such a figure, SHIB’s burning rate jumped by about 6,700 %.

• The agency plans to spend $55 billion on purchases and investments using cryptocurrency in the coming year.As CryptoGlobe previously reported, Australian power company 1st Energy began taking cryptocurrency payments through BitPay earlier this month. DOGE and SHIB, two meme-inspired tokens, are also accepted by the agency.

• Australian power company 1st Energy began taking cryptocurrency payments through BitPay earlier this month. DOGE and SHIB, two meme-inspired tokens, are also accepted by the agency.

As part of a cooperation with crypto funds processor BitPay, the first real estate investment trust (REIT) to take cryptocurrencies for shares has also embraced the meme-inspired coins Shiba Inu ($SHIB) and Dogecoin ($DOGE).

The Agency Plans To Spend $55 Billion

According to a press release, NOYACK Logistics Earnings (NLI), a REIT that invests in supply chain real estate, is now taking a variety of cryptocurrencies for its shares via BitPay. The REIT takes BTC, BCH, ETH, LTC, WBTC, and major stablecoins like BUSD, USDP, DAI, and GUSD, as well as BTC, BCH, ETH, LTC, WBTC, and primary stablecoins like BUSD, USDP, DAI, and GUSD.

Stephen Pair, the CEO of BitPay, was reported as saying: Another example of crypto becoming popular is this. More traders are requesting that their bitcoin allocations be converted into a physical property, such as real estate. As a result of this capability, Noyack is at the forefront of various funding administrations. Pair went on to say that the market potential for crypto adoption crossing into the physical world is huge and that the agency plans to spend $55 billion on purchases and investments using cryptocurrency in the coming year.

As CryptoGlobe previously reported, Australian power company 1st Energy began taking cryptocurrency payments through BitPay earlier this month. DOGE and SHIB, two meme-inspired tokens, are also accepted by the agency.

Shiba Inu Recently Surged After Over 745 Million Tokens Were Burned In Just 24 Hours

AMC, the largest movie theatre chain in the United States, has recently added payment options for these two cryptocurrencies, thanks to BitPay, which was mentioned in an announcement from its CEO Adam Aron as helping to make this happen.

Notably, the burn price of Shiba Inu recently surged after over 745 million tokens were burned in just 24 hours. As just a consequence of such a figure, SHIB’s burning rate jumped by about 6,700 %. Token burns are accomplished by sending SHIB to unreachable addresses, thus removing tokens from circulation.

ALSO READ: Afghans Became Crypto-friendly Amid US Sanctions

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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The first real estate investment trust (REIT) to accept cryptocurrencies for shares, has also adopted the meme-inspired cryptocurrencies Shiba Inu ($SHIB) and Dogecoin ($DOGE), as part of a partnership with crypto payments processor BitPay.

According to a press release the REIT, NOYACK Logistics Income (NLI), which invests in supply chain real estate, is now accepting various cryptocurrencies for its shares via BitPay. The cryptocurrencies the REIT accepts include the meme-inspired assets as well as BTC, BCH, ETH, LTC, WBTC, and leading stablecoins like BUSD, USDP, DAI, and GUSD.

BitPay’s CEO Stephen Pair was quoted saying:

This is another example of moving crypto mainstream. We see more investors asking to move cryptocurrency allocations into physical assets like real estate. This ability puts Noyack at the forefront of alternative investment management.

Pair added that the “market potential for crypto adoption bridging into the physical world is huge” and added the firm estates $55 billion in “purchases and investments using cryptocurrency in the next 12 months.”

As CryptoGlobe reported, earlier this month Australian energy firm 1st Energy started accepting cryptocurrency payments through BitPay as well. The firm also accepts payments in the meme-inspired tokens DOGE and SHIB.

Leading U.S. movie theater chain AMC has also recently added payment options for these two cryptocurrencies thanks to BitPay, as in an announcement from its CEO Adam Aron the crypto payments provider was mentioned for helping “make this happen.”

Notably, Shiba Inu’s burn rate has recently skyrocketed after over 745 million tokens were burned in only 24 hours. The figure saw SHIB’s burn rate jump over 6,700%. Token burns, are made by sending SHIB to inaccessible addresses, effectively removing the tokens from circulation.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured image via Pixabay

People talk about Dogecoin (CRYPTO:DOGE) and owning it can make you feel like you are a member of the “in” crowd. But emotions are a powerful, and sometimes dangerous, aspect of investing that people don’t think about nearly enough. Indeed, Dogecoin’s volatility alone should be enough to keep most investors away from it. If you are still tempted by Dogecoin, however, there’s a better way to join an “in” crowd: real estate investment trust (REIT) Innovative Industrial Properties (NYSE:IIPR). This landlord owns marijuana grow houses, has a dividend that’s grown incredibly fast along with its rapidly expanding portfolio, and gives you bragging rights because you are putting money into a newsworthy and up-and-coming new sector. Here are four reasons why you should consider the stock.

1. A real business

There’s nothing inherently good or bad about Dogecoin, but its value is basically derived from investors who believe it has value. There are no real assets behind it. Innovative Industrial Properties, on the other hand, owns physical assets — 76 100%-leased properties with 7.5 million rentable square feet of space in them. Roughly 2.8 million of that number is currently under construction, so there’s growth potential. The real estate investment trust’s properties are located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington.

Image source: Getty Images.

These are real assets that support the rent-paying ability of real businesses. The company’s average lease length is over 16 years, providing a strong underpinning to its revenues. Should something go wrong with any one of the company’s tenants, it could release the property to another company or sell it. In other words, Innovative Industrial is a tangible, physical business with inherent value.

2. In a high-profile industry

Let’s be honest, there are some companies that you would hesitate to talk to anyone about owning because they are just too boring. A utility stock is an example. But Innovative Industrial Properties owns marijuana grow houses, which is a pretty unique asset niche in which only a couple of other REITs play. It is a “pot stock,” even though it doesn’t grow or sell any marijuana itself. This is a relatively new industry that has been in the headlines for many years as marijuana is increasingly legalized in a state-by-state and country-by-country crawl across North America. So not only do you get to own real assets by owning Innovative Industrial, but you still get to be a part of a unique “club” with an interesting, newsworthy story to share.

3. With plenty of growth in the future

Marijuana sales in the United States increased from $13.2 billion in 2019 to $20.1 billion in 2020. Innovative Industrial expects that number to more than double by 2025, hitting as much as $45.9 billion. That’s huge growth on top of a huge history of growth, largely attributable to the fact that the pot industry is still very new. 

IIPR data by YCharts

To be fair, Innovative Industrial’s initial growth — the stock is up 1,300% since its initial public offering (IPO) in late 2016 — probably won’t be repeated. However, that doesn’t mean there’s not a big opportunity here. For example, the stock is up roughly 130% over the past year. Given the growth potential in the underlying marijuana space, there’s plenty of reason to believe there’s an exciting future for Innovative Industrial as well.

It’s worth noting that the REIT’s adjusted funds from operations (FFO) increased from $0.67 per share in 2017, its first full year as a public company, to $5.00 per share in 2020. Adjusted FFO was $1.71 per share in the third quarter of 2021, which suggests an annual run rate of $6.84. So Innovative Industrial has proven it can grow along with the industry it serves.

4. And you’ll get paid to own it

In addition to all of this, Innovative Industrial Properties also pays a dividend, providing a tangible return on your investment. As a REIT, it has to pass at least 90% of its taxable earnings on to investors, so this is a fundamental part of its business structure. Today the yield is around 2.2%. That’s not huge, but it is a lot more than what you would get from owning Dogecoin or even an S&P 500 Index fund.

The dividend, meanwhile, has been increased every year since the REIT started paying it in mid-2017. The company’s adjusted FFO growth is the main driver of that, with the dividend increasing from $0.15 per share per quarter to $1.50 per share per quarter. That’s a massive increase in roughly five years. It probably won’t repeat that trick, but dividend growth still looks fairly generous for this REIT, noting that one year ago the quarterly payout was $1.17 per share.

A better option for most investors

If you are like most people, being part of the “in” crowd feels good. Right now Dogecoin has a high profile and people are talking about it. But you would probably be better off owning a stock like Innovative Industrial, which is in a newsworthy sector, has a real business and material growth prospects, and is paying you a tangible return just for owning it. To be fair, the REIT isn’t cheap today, but it has a lot more going for it than Dogecoin and its brethren. And while value-conscious investors might not want to buy Innovative Industrial Properties, those looking for fast-growing companies or companies with fast-growing dividends should give it a look.